Roman Butler Fullerton & Co. Reduces Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Roman Butler Fullerton & Co. lowered its position in Arista Networks, Inc. (NYSE:ANET) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,334 shares of the technology company’s stock after selling 672 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Arista Networks were worth $1,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after buying an additional 84,212 shares during the period. FMR LLC boosted its stake in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the period. State Street Corp boosted its stake in Arista Networks by 3.2% during the first quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock worth $1,677,231,000 after buying an additional 313,036 shares during the period. Morgan Stanley boosted its stake in Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after buying an additional 3,432,952 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Arista Networks by 1.8% in the first quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after purchasing an additional 91,829 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 11,650 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.28, for a total value of $3,335,162.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now directly owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,415 shares of company stock worth $98,017,152. 18.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Barclays raised their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Price Performance

Shares of NYSE ANET traded down $1.58 during trading on Thursday, hitting $257.69. 425,557 shares of the company were exchanged, compared to its average volume of 2,428,379. The firm’s fifty day moving average price is $281.39 and its 200 day moving average price is $244.06. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market cap of $80.56 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 2.24 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.